JUDGMENT :

Dhiraj Singh Thakur, J.

1. In this petition, the petitioner who is the Chairman and Managing Director of one “Crest Paper Mills Limited (“CPML”), seeks the issuance of a writ of certiorari for quashing inter-alia the order dated 13th February 2018 passed under section 179 of the Income Tax Act, 1961 (‘The Act’) holding the petitioner liable to pay a demand of Rs.3,98,19,430/- alongwith interest under section 220(2) of the Act which was otherwise due and payable by the company, CPML. The demand outstanding against CPML was for the assessment year 2010-11.

2. Briefly stated the material facts in the light of which the present controversy has arisen are as under :-

(a) A Show Cause Notice dated 24th January 2018 was served upon the petitioner by the Assistant Commissioner of Income Tax, Circle 9(2)(2), Mumbai informing the petitioner that tax dues for an amount of Rs.3,88,19,430/- were outstanding against M/s. Crest Paper Mills Ltd. for the assessment year 2010-11 and that the same had not been paid by the assessee company so far. The petitioner therefore was asked to show cause as to why proceedings under section 179 of the Act be not initiated against him in his capacity as a